Here comes that PRICE word again!!!
Forgive me for coming back to an old topic at the risk of repeating myself. . . I will because it is oh so important. It is a perplexing and exciting time in Real Estate right now. Comparative Market Analysis are pumped out over the computer and printer more than ever to determine the value of a sellers home and also to determine what your buyer should reasonably offer on a property. I know many of you are tired of hearing it, but PRICE is everything today and getting it right to start with is even more important.
When I go to a listing presentation I come armed with a stack of statistics that point out what the market is with valid accurate data as well as common knowledge of the market. I do this because it is my job to the best of my ability to lead my seller into making an accurate pricing decision. Even with all that information and the News blaring the facts, it is very difficult for a seller to believe that his property is really worth so much less than he paid for it. People are still holding on to what they paid for it which has NOTHING to do with the value. Bottom line, trust your Realtor she really does want to give you value service by giving you accurate information that will help you.
Before I even go see my customers I call some of my trusted Realtor cronies to see what they have to say about the value of a home. Most of the time we are very close and mostly because we have all watched deals come and go because of failure to appraise. It makes sense to clear these issues up before you get to the bargaining table so I still suggest that the seller get an appraisal from a professional so the price is right to start with.
My main push for the importance of this is the same as it was half a year ago when I brought it up. IF you have decided to sell your home then the best time to price it right is when you list it and not after it has languished on the market for several months. While your home is priced wrong all the qualified buyers are walking right past your home to the next one down the street. The right price is also a protection to the Seller to make sure he gets the maximum dollar for his home. And again the really good news is if you are selling low then you get to buy low.
I hear the arguments already brewing: But Karen, what about style, quality, location and all those things that buyers look for. Your right, buyers still want a beautiful home in a nice area with great amenities and they can have that but they are not willing to pay more than the market value for all of that. It may sound at first that us Realtors are not on the side of the sellers but we really are and we want to sell your property for the best price that we can get. We put great energy, enthusiasm and professionalism in doing so and remember the higher your sale price the higher our pay check too. The fact remains we need to price it right and do it correctly right off the bat to make a successful timely sale.
Good news abounds for there are many buyers out there that are qualified and ready to buy and they are looking for just the right deal. Most of my Realtor buddies are busier than they have been in years. Great interest rates, quality inventory and New Buyer tax credits to entice the fence straddlers are keeping the phone lines hot. Time is also running out for the New buyer Tax Credit (must close by end of November) so get those houses PRICED RIGHT NOW so they can fly off the shelf!!!!